By Samar Yahya
FOR the seventh consecutive year, the Jeddah-Korea Business Show opened in Jeddah Chamber of Commerce and Industry (JCCI) in partnership with Korean International Trade Association (KITA) to highlight and promote the Saudi-Korean business interaction on Wednesday.
Korean Consul General Nak Young Oh, Secretary General of the Jeddah Chamber Ibrahim Dahlan and Kim Jung-Kwan, vice president of KITA, inaugurated the two-day Jeddah-Korea Business Show.
Nak Young Oh said: “In the western region of Saudi Arabia, the Jeddah-Korea Business Show has been the only official platform introducing the most up-to-date innovations of Korean companies to Saudi business community. Since its inauguration in 2011, over 450 Korean companies, representing more than 13 key business sectors, have participated in the show, providing mutual business opportunities to both countries.
“At this exceptional gathering of Korean and Saudi businesses today, we are standing at a truly meaningful time of the two countries’ strategic partnership within the framework of Saudi Vision 2030. Next week, the 18th Korea-Saudi Joint Committee will take place in Seoul, co-chaired by Ms. Kang Kyung-wha, Korean minister of foreign affairs, and Adel Faqeeh, Saudi minister of economy and planning. Both countries will discuss how to enhance economic cooperation and strategic partnership, which will surely help in implementing the Vision 2030,” Oh added
Ibrahim Dahlan said: “The 7th Korean Catalog show, organized by KITA and displayed in JCCI, provides so many potential fields for more business cooperation between our business members in the chamber with their Korean colleagues. This activity from the Korean Consulate General in Jeddah helps a lot to strengthen business relations between both the private sectors, which goes back to half a century, and gives more highlights about the latest technology in Korea and the finesse in Korean products, which already enjoys high and good reputation in Saudi market and all over the world markets.”
This year, 91 Korean companies from various sectors such as beauty and cosmetics, medical and health, renewable energy, food and health supplements, machinery, ICT and others are showcasing their latest catalogues and products.
The 2017 Jeddah-Korea Business Show is marked by the participation of the Korean business delegation consisting of CEOs of 14 Korean companies from different sectors. Kim Jung Kwan, executive vice chairman of KITA and former vice minister of trade and energy, is leading the Korean delegation.
Jung-Kwan said: “It’s a great pleasure for me to co-host the 2017 Jeddah-Korea Business Show with JCCI and the Korean Consulate in Jeddah. 2017 marks the 55th anniversary of the establishment of our diplomatic ties. For the past 55 years, Korea has imported oil from Saudi Arabia which has been crucial to our economic growth and has contributed to the establishment of Saudi infrastructure such as roads, ports, housing and airports as well as industrial facilities including oil refineries, petrochemicals, power and water processing plants. Through close economic cooperation, we have become each others’ fifth largest trading partners.”
KITA strengthens their partnership with JCCI by renewing the cooperative MOU during the business show, aiming at promoting the cooperation in developing bilateral trade, technology transfer and knowledge exchange. The MOU has been an effective mechanism to support the Saudi and Korean private sectors.
This year’s Jeddah-Korea Business Show is marked by the distinguished participation of 14 CEOs and headed by vice president of KITA, renewal of MOU and the opportunity that Saudi entrepreneurs have to participate in business-to business (B2B) meetings with these companies. The (B2B) meetings offer a unique opportunity to create direct access to information regarding the latest Korean technologies, products and market potentials.
